Bagmane Prime Office REIT's Successful Market Debut: A 4% Premium Rise
Bagmane Prime Office REIT, backed by Blackstone, debuted with nearly a 4% premium against its issue price on both BSE and NSE. The IPO saw strong investor interest, being oversubscribed 23.71 times, and featured a high market valuation of Rs 35,244.40 crore, highlighting its successful entry into the market.
Bagmane Prime Office REIT, supported by Blackstone, concluded Thursday's trading session with a notable premium, ending nearly 4% higher than its initial issue price of Rs 100.
Launching at Rs 103.40 on the BSE, the REIT experienced a 3.4% rise, with prices soaring to Rs 104.48 during trading hours. It ultimately closed at Rs 103.66, marking a 3.66% gain. On the NSE, units listed at Rs 103.50, finishing the day at Rs 103.54, up 3.54%.
The REIT's IPO, valued at Rs 3,405 crore, attracted robust investor interest, being subscribed 23.71 times by its May 7 bidding deadline, with over 2 lakh applications surpassing prior REIT endeavors. Bagmane Prime's portfolio includes six premium Grade A+ business parks in Bengaluru's key areas.
(With inputs from agencies.)
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